Chaparral Energy draws $141 million from credit agreement via JPMorgan

By Tali Rackner

Norfolk, Va., Feb. 12 – Chaparral Energy, Inc. borrowed $141 million under its eighth restated credit agreement dated April 12, 2020 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA is the administrative agent.

The funds are intended to be used for general corporate purposes.

Initial interest on the borrowings is Libor plus 250 basis points.

As of Thursday, total outstanding borrowings under the facility were $548 million, in addition to $828,000 of outstanding letters of credit.

The oil and gas company is based in Oklahoma City.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.